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Press Release Category Business - Real Estate - Hall-McNeer Development Release Date: October 05, 2007

Prime estate site in Breckenridge listed for $5.4 million

By Hall-McNeer Development
October 05, 2007
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17.2 acre estate site is the most expensive residential property near the ski resort's base area.

PR9.NET October 05, 2007 - Breckenridge, Colorado - A 17.2 acre estate site is on the block for $5.4 million, making it one of the most expensive and largest parcels of residential property near the ski resort's base area, in Breckenridge history. The property sits just below the new Peak 7 base area currently under construction and fronts over 1,500 feet of Ski Hill Road, with views of the Gondola running through Cucumber Gulch.

Bret Amon, a local realtor with Ten Peaks – Sotheby's who represents the property's owner, The Hall-McNeer Development Group, confirmed that the property went on the market in the past week. He said Hall-McNeer came up with the $5.4 million price tag because of the strong market developing on Peak 7 and Shock Hill. Contributing factors also include the low dollar and approaching build out. "Imagine what an estate parcel such as this would cost at the base of Vail or Aspen, if it were available? Shock Hill and Peak 7 are becoming the new elite, luxury neighborhoods in Breckenridge" Amon added. Gondola riders will get a good view of all these trophy sites as the gondola has mid- stations at both Shock Hill and Peak 7, with the 17.2 acre estate parcel in between.

At one point the owner approached the Town of Breckenridge about relocating a conservation easement on the parcel, based on a recommendation by Breckenridge's wildlife biologist, Dr. Christy Carello. The owners retained their own environmental team who concluded, along with planners from the Town of Breckenridge that the easement was properly located. "We were always fine with the easement's original location and informed our wildlife biologist, botanist and hydro-engineer that we would abide by their findings. We're glad we took the extra steps necessary to insure this was the case," said McNeer. The parcel is zoned for a single family residence.

Local commercial brokers said they can not recall when a property this size, has gone on the market this close, to a base area of a major ski resort. Amon concluded that there really are no comparable's and that the site is one of a kind. Recent vacant land sales at other ski-in locations include a .96 acre parcel on Westridge Road that sold for $2,100,000 and a parcel with just over a half an acre on Timber Trail Road that sold for $2,600,000.

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About Hall-McNeer Development

Nationwide developer of single family, multifamily and student housing projects.

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